President Donald Trump says the U.S. is grounding of all Boeing 737 Max 8 and Max 9 planes. The Max 8 is the same type of plane involved in two recent deadly crashes.The president announced the order from the White House Wednesday, after countries around the world, including Canada, Egypt and New Zealand, ordered those types of planes to be grounded.He added that both the Federal Aviation Admission and Boeing were "in agreement with the action," and any planes currently in the air would continue to their destination where they will be grounded."Pilots have been notified, airlines have been all notified. Airlines are agreeing with this. The safety of the American people and all people is our paramount concern," the president said.There are three U.S. carriers that operate these types of aircraft, Southwest, American, and United.Southwest has 34 Max 8 aircraft out of a total fleet of 754 planes (4.5 percent of its fleet).American has 24 Max 8 aircraft out of a total fleet of 962 planes (2.5 percent of its fleet).United has 14 Max 9 aircraft of a total fleet of 771 planes (1.8 percent of its fleet).Boeing released a statement saying it supports the decision, citing it was "out of an abundance of caution and in order to reassure the flying public of the aircraft’s safety.""Safety is a core value at Boeing for as long as we have been building airplanes; and it always will be," said Boeing CEO Dennis Muilenburg. "There is no greater priority for our company and our industry. We are doing everything we can to understand the cause of the accidents in partnership with the investigators, deploy safety enhancements and help ensure this does not happen again.”The FAA released its own statement after the announcement was made saying, "The FAA is ordering the temporary grounding of Boeing 737 MAX aircraft operating by U.S. airlines or in U.S. territory," adding the grounding will "remain in effect pending further investigation."The administration says evidence discovered earlier Wednesday, along with newly refined satellite date led to the decision. Passengers affected by the Max 8 ban will not be able to claim compensation, according to Omid Azizi-Torkanpour, managing director of passenger rights organization Flight Reclaim, because the disruption is classed as extraordinary by the UK's Civil Aviation Authority (CAA) and therefore outside of the airline's control."Airlines will still be required to provide care and assistance to consumers, and to reroute them to their final destination if the consumer still wishes to travel but will not be required to financially compensate them," reads a statement from the CAA."We have already been receiving claims for this scenario but have had to explain to passengers that the nature of the disruption is one in which compensation is not payable," Azizi-Torkanpour told CNN.However airlines do have a responsibility to make alternative arrangements for their passengers and their liability to pay compensation depends on how long aviation authorities consider the situation to be "extraordinary."In turn this could vary depending on the percentage of 737 Max planes flown by individual airlines, according to Flightright.Most airlines will likely be given two to three days after grounding to bring in extra capacity through leased aircraft, said the company, although Norwegian and Icelandair, which owns six Max 8 aircraft, could be given up to seven days due to the higher percentage of affected aircraft in their fleets. "We'd encourage passengers to proactively rebook flights on a different aircraft rather than canceling their own travel plans, as travelers do not have a right to compensation or reimbursement for tickets purchased if they choose to cancel," Airhelp CEO Henrik Zillmer told CNN.It's also worth checking the terms and conditions of your travel insurance policy, said Steve Nowottny, of UK consumer website MoneySavingExpert.com."If your flight is disrupted and you suffer other losses as a result -- for instance, if you have hotel or car hire bookings you can't cancel -- it's worth checking if your travel insurance policy covers 'consequential loss,' though this will only apply in some cases," Nowottny told CNN.While most airlines should be able to adequately deal with the immediate disruption in the coming days, there is potential for the 737 Max ban to reverberate throughout the industry in the future.The aircraft look set to be grounded for an extended period, according to Joseph Schwieterman, an aviation expert and professor in transportation at De Paul University in Chicago, and any interruption to the delivery of new planes could disrupt efforts to expand airline schedules in summer."We're not going to see airports departure boards filled with cancellation announcements. It will be more subtle," Schwieterman told CNN. He added that it remained to be seen if the crisis will have a knock-on effect over the "frenzied summertime travel season."On Sunday, an Ethiopian Airlines Boeing 737 Max 8 jet plummeted into a field shortly after leaving Addis Ababa's Bole International Airport, killing all 157 people on board. One of the pilots reported flight control problems and asked to return to the base.As investigators search for clues into the cause of the disaster, some aviation experts drew parallels to the Lion Air Boeing Max 8 plane that went down last October over the Java Sea in Indonesia, killing all 189 people on board.CNN contributed to this report.

President Donald Trump says the U.S. is grounding of all Boeing 737 Max 8 and Max 9 planes. The Max 8 is the same type of plane involved in two recent deadly crashes.

The president announced the order from the White House Wednesday, after countries around the world, including Canada, Egypt and New Zealand, ordered those types of planes to be grounded.

He added that both the Federal Aviation Admission and Boeing were "in agreement with the action," and any planes currently in the air would continue to their destination where they will be grounded.

"Pilots have been notified, airlines have been all notified. Airlines are agreeing with this. The safety of the American people and all people is our paramount concern," the president said.

There are three U.S. carriers that operate these types of aircraft, Southwest, American, and United.

Southwest has 34 Max 8 aircraft out of a total fleet of 754 planes (4.5 percent of its fleet).

American has 24 Max 8 aircraft out of a total fleet of 962 planes (2.5 percent of its fleet).

United has 14 Max 9 aircraft of a total fleet of 771 planes (1.8 percent of its fleet).

Boeing released a statement saying it supports the decision, citing it was "out of an abundance of caution and in order to reassure the flying public of the aircraft’s safety."

"Safety is a core value at Boeing for as long as we have been building airplanes; and it always will be," said Boeing CEO Dennis Muilenburg. "There is no greater priority for our company and our industry. We are doing everything we can to understand the cause of the accidents in partnership with the investigators, deploy safety enhancements and help ensure this does not happen again.”

The FAA released its own statement after the announcement was made saying, "The FAA is ordering the temporary grounding of Boeing 737 MAX aircraft operating by U.S. airlines or in U.S. territory," adding the grounding will "remain in effect pending further investigation."

The administration says evidence discovered earlier Wednesday, along with newly refined satellite date led to the decision.

Passengers affected by the Max 8 ban will not be able to claim compensation, according to Omid Azizi-Torkanpour, managing director of passenger rights organization Flight Reclaim, because the disruption is classed as extraordinary by the UK's Civil Aviation Authority (CAA) and therefore outside of the airline's control.

"Airlines will still be required to provide care and assistance to consumers, and to reroute them to their final destination if the consumer still wishes to travel but will not be required to financially compensate them," reads a statement from the CAA.

"We have already been receiving claims for this scenario but have had to explain to passengers that the nature of the disruption is one in which compensation is not payable," Azizi-Torkanpour told CNN.

However airlines do have a responsibility to make alternative arrangements for their passengers and their liability to pay compensation depends on how long aviation authorities consider the situation to be "extraordinary."

In turn this could vary depending on the percentage of 737 Max planes flown by individual airlines, according to Flightright.

Most airlines will likely be given two to three days after grounding to bring in extra capacity through leased aircraft, said the company, although Norwegian and Icelandair, which owns six Max 8 aircraft, could be given up to seven days due to the higher percentage of affected aircraft in their fleets.

"We'd encourage passengers to proactively rebook flights on a different aircraft rather than canceling their own travel plans, as travelers do not have a right to compensation or reimbursement for tickets purchased if they choose to cancel," Airhelp CEO Henrik Zillmer told CNN.

"If your flight is disrupted and you suffer other losses as a result -- for instance, if you have hotel or car hire bookings you can't cancel -- it's worth checking if your travel insurance policy covers 'consequential loss,' though this will only apply in some cases," Nowottny told CNN.

While most airlines should be able to adequately deal with the immediate disruption in the coming days, there is potential for the 737 Max ban to reverberate throughout the industry in the future.

The aircraft look set to be grounded for an extended period, according to Joseph Schwieterman, an aviation expert and professor in transportation at De Paul University in Chicago, and any interruption to the delivery of new planes could disrupt efforts to expand airline schedules in summer.

"We're not going to see airports departure boards filled with cancellation announcements. It will be more subtle," Schwieterman told CNN. He added that it remained to be seen if the crisis will have a knock-on effect over the "frenzied summertime travel season."

On Sunday, an Ethiopian Airlines Boeing 737 Max 8 jet plummeted into a field shortly after leaving Addis Ababa's Bole International Airport, killing all 157 people on board. One of the pilots reported flight control problems and asked to return to the base.

As investigators search for clues into the cause of the disaster, some aviation experts drew parallels to the Lion Air Boeing Max 8 plane that went down last October over the Java Sea in Indonesia, killing all 189 people on board.